Moguling

Buy lots of interesting domain names first (especially ones that will do well on Google searches), slap on some blogging and search optimization techniques, then look for Bloggers to put content on the site. This technique seems to be catching on since Jason Calcanis sold his blogpubishing empire (of 50 sites - including the popular  Engadget) to AOL for $25M in October 2005. At that time, Calcanis claimed Weblogs Inc was making $1M monthly in Google Adsense  clickthroughs.  

i've always wondered what the business arragement is like on these blogs - what happens if the blogger/writers leave and set up their own competing blog? The answer seems to be, as far as DotVentures is concerned, is that - it doesn't matter  if the writers leave, new writers can always be found  - it is the domain that matters. The domain  has the google ranking and will bring in the hits. 

Dotventures calls this technique "Moguling". More info here and here.